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ONS Unemployment Figures comment from Jan Chmiel, Managing Director of Vistage

Jan Chmiel, Managing Director of Vistage, the international membership organisation for business leaders comments:

“Such low levels of unemployment should have the country jumping for joy. However, the reality of this for UK Businesses may not be so positive. This historically low unemployment means businesses have to fight for the best talent, offering significant honey traps to entice them to join their business. With inflation outstripping wage increases, this leads to more complications with existing employees fighting for more money in order to keep on top of the cost of living.

“Our research has shown that the biggest concern for UK businesses at present is talent management. Whilst it today’s figures might seem like good news for the UK, what we are actually seeing here is the perfect storm for the talent management battle to become even more challenging for employers.”